Markets were mixed on Wednesday.
In the US, the S&P 500 was flat while the Nasdaq Composite fell 1.3 percent but the Dow Jones Industrial Average rose 0.4 percent to a record high.
In Europe, most markets rose but the FTSE 100 fell 0.9 percent.
Asian stocks were also mostly higher. The Nikkei 225 rose 0.5 percent.
Regarding the sell-off on the Nasdaq, Frank Cappelleri, a technical strategist at Instinet LLC, said the tech rally had gotten “long in the tooth”.
Ian Winer, head of the equities division at Wedbush Securities, saw the sell-off as a “mini unwind of momentum stocks” and would not rule out a “spill over to the rest of the market at some point”.
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